EIBAX vs. ETY
EIBAX (Eaton Vance Total Return Bond Fund) and ETY (Eaton Vance Tax Managed Diversified Equity Income Closed Fund) are both mutual funds - EIBAX is a Intermediate Core-Plus Bond fund managed by Eaton Vance, while ETY is a Large Cap Growth Equities fund actively managed by Eaton Vance. Over the past 10 years, EIBAX returned 3.57%/yr vs 12.63%/yr for ETY. At a correlation of -0.03, they often move in opposite directions. EIBAX charges 0.49%/yr vs 1.06%/yr for ETY.
Performance
EIBAX vs. ETY - Performance Comparison
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Returns By Period
In the year-to-date period, EIBAX achieves a 0.80% return, which is significantly higher than ETY's -5.11% return. Over the past 10 years, EIBAX has underperformed ETY with an annualized return of 3.57%, while ETY has yielded a comparatively higher 12.63% annualized return.
EIBAX
- 1D
- 0.48%
- 1M
- 0.90%
- YTD
- 0.80%
- 6M
- 1.19%
- 1Y
- 5.53%
- 3Y*
- 6.06%
- 5Y*
- 1.37%
- 10Y*
- 3.57%
ETY
- 1D
- -1.20%
- 1M
- -5.53%
- YTD
- -5.11%
- 6M
- -4.80%
- 1Y
- -1.17%
- 3Y*
- 14.03%
- 5Y*
- 8.51%
- 10Y*
- 12.63%
EIBAX vs. ETY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EIBAX Eaton Vance Total Return Bond Fund | 0.80% | 9.15% | 4.38% | 5.59% | -12.88% | 3.02% | 5.89% | 10.84% | -0.84% | 7.72% |
ETY Eaton Vance Tax Managed Diversified Equity Income Closed Fund | -5.11% | 11.02% | 33.11% | 21.83% | -21.21% | 32.61% | 7.27% | 33.68% | -8.96% | 28.72% |
Correlation
The correlation between EIBAX and ETY is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Nov 17, 2009 | -0.03 |
The correlation between EIBAX and ETY shifts across timeframes, from -0.03 (all time) to 0.32 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EIBAX vs. ETY — Risk / Return Rank
EIBAX
ETY
EIBAX vs. ETY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Total Return Bond Fund (EIBAX) and Eaton Vance Tax Managed Diversified Equity Income Closed Fund (ETY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| EIBAX | ETY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.48 | ||
| Sortino ratioReturn per unit of downside risk | +2.15 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.00 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 1.73 | -0.08 | +1.81 |
| Martin ratioReturn relative to average drawdown | 5.08 | -0.30 | +5.38 |
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Drawdowns
EIBAX vs. ETY - Drawdown Comparison
The maximum EIBAX drawdown since its inception was -17.20%, smaller than the maximum ETY drawdown of -53.06%. Use the drawdown chart below to compare losses from any high point for EIBAX and ETY.
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Drawdown Indicators
| EIBAX | ETY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.20% | -53.06% | +35.86% |
Max Drawdown (1Y)Largest decline over 1 year | -3.26% | -14.40% | +11.14% |
Max Drawdown (3Y)Largest decline over 3 years | -5.65% | -21.28% | +15.63% |
Max Drawdown (5Y)Largest decline over 5 years | -16.91% | -24.06% | +7.15% |
Max Drawdown (10Y)Largest decline over 10 years | -17.20% | -42.46% | +25.26% |
Current DrawdownCurrent decline from peak | -1.13% | -7.20% | +6.07% |
Average DrawdownAverage peak-to-trough decline | -3.50% | -7.58% | +4.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.11% | 3.89% | -2.78% |
Volatility
EIBAX vs. ETY - Volatility Comparison
The current volatility for Eaton Vance Total Return Bond Fund (EIBAX) is 1.31%, while Eaton Vance Tax Managed Diversified Equity Income Closed Fund (ETY) has a volatility of 4.20%. This indicates that EIBAX experiences smaller price fluctuations and is considered to be less risky than ETY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EIBAX | ETY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.31% | 4.20% | -2.89% |
Volatility (6M)Calculated over the trailing 6-month period | 3.19% | 10.84% | -7.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.06% | 13.40% | -9.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.34% | 17.95% | -12.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.70% | 19.91% | -15.21% |
EIBAX vs. ETY - Expense Ratio Comparison
EIBAX has a 0.49% expense ratio, which is lower than ETY's 1.06% expense ratio.
Dividends
EIBAX vs. ETY - Dividend Comparison
EIBAX's dividend yield for the trailing twelve months is around 5.12%, less than ETY's 8.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EIBAX Eaton Vance Total Return Bond Fund | 5.12% | 5.13% | 5.58% | 4.01% | 4.04% | 3.49% | 3.87% | 3.97% | 4.16% | 3.55% | 3.90% | 5.69% |
ETY Eaton Vance Tax Managed Diversified Equity Income Closed Fund | 8.52% | 7.76% | 7.59% | 7.92% | 10.04% | 7.01% | 8.26% | 8.08% | 9.92% | 8.30% | 9.77% | 9.03% |
Frequently Asked Questions
EIBAX and ETY have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETY has higher volatility (4.20%) compared to EIBAX (1.31%). In terms of maximum drawdown, EIBAX dropped -17.20% vs ETY's -53.06%.
EIBAX currently has the higher Sharpe Ratio (1.40 vs -0.09), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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